The provisions of a will currently undergoing probate are: "One thousand shares of Wal-Mart stock to my son; $10,000 in cash from my savings account to my brother; $5,000 in cash to my daughter; and any remaining property divided equally between my son and daughter." At the time of death, the estate included 1,400 shares of Wal-Mart stock and $25,000 cash in the savings account.
What would the son have received from the settlement of the estate?

Question

Quizplus · Accepted Answer

Son receives only the 1,000 shares of stock with the other 400 shares to the residual from which he will receive half for a total of 1,200 shares. The $25,000 in Savings Cash - specific bequests (Brother $10,000 + Daughter $5,000) $15,000 = $10,000 residual to be equally divided, therefore the son receives $5,000 of the Cash.

The Provisions of a Will Currently Undergoing Probate Are: "One